CRC Group acquires employee benefits general agency BenefitMall
CRC Group, a North American wholesale specialty insurance distributor and a subsidiary of Truist Insurance Holdings, has completed the previously announced acquisition of BenefitMall, an American employee benefits general agency.
The financial terms of the deal were not disclosed.
BenefitMall is expected to help CRC Group offer a broad range of insurance products and services.
Dave Obenauer — CRC Group CEO said: “We are excited to welcome BenefitMall as the newest part of the CRC Group team.
“As the insurance marketplace and the risks faced by clients continue to evolve, it’s vital that we grow strategically in ways that help us meet those needs. The addition of BenefitMall significantly expands our opportunity to support clients as they navigate the current marketplace.”
Following the acquisition, CRC Group is expected to place premiums of over $34 billion annually and employ more than 5,100 people across North America.
BenefitMall will become the employee benefits solution of the wholesale specialty insurance distributor within the latter’s life, retirement, and benefits unit, which was formed in July 2021. It will operate under the same brand name under the leadership of its existing management team.
Scott Kirksey — BenefitMall CEO said: “We are deeply proud of the reputation for excellence we have earned among our broker and carrier partners over the years, and we are excited to bring that commitment to innovation and service with us as we join CRC Group.
“I am confident that we will continue to deliver the fastest, easiest, and most trusted benefits selling experience as part of the CRC Group family.”